Do you have either high utilization or recent lates/derogs? Score 9 has a 13th scorecard for high utilization, and, iirc, weights recent data more heavily than prior versions. FICO9 isn't as well understood yet as FICO8, but if you want to post your profile data we can help you look through it for anything that stands out.
@Anonymous wrote:Hey everyone! Question regarding Fico 9. I'm noticing more and more lenders using this score for their products. This fico9 score of mine is greatly lagging behind both Fico8 and my mortgage 5,4, 2 scores by nearly 90-100 pts. (Low 600s currently) What seems to be the heaviest factor(s) weighing on these scores? These scores haven't budged except maybe 10'points in quite some time, yet I've increased both 8 and mortgage score through the roof! What gives?
Some possibles:
-paid collections not counted in 9
-unpaid collections given more weight in 9
-medical collections given less weight in 9
-rental history counted in 9
-recent inquiries given less weight in 9
-average age of accounts given less weight in 9
-no. of accts reporting balance given more weight in 9
-premium for open as opposed to closed installment loans reduced in 9
-installment loan utilization percentage given more weight in 9
-9 more sensitive to revolving utilization
-9 has a separate clean scorecard for people with high revolving utilization
I am faced with the same issue and was wondering why my EQ FICO 9 (747 score) was lower than my EQ FICO 8 (796 score) . . . So I'm glad that @Anonymous explained that FICO 9 hates derogs . . . OUCH, I have my 2016 PIF BoA CO (serious delinquency) that Equifax hasn't budged on . . . as of yet, but I have been working on them (now I'm considering leaving it alone)!!!
Interesting comments on the FICO 9 thing. Why? Mine definitely do not follow the trends reported above relative to the other Mort scores.
- FICO 5/4/2 (EQ/TU/EX):
- 711 / 739 / 724
- FICO 8 (EQ/TU/EX):
- 679 / 687 / 656
- FICO 9 (EQ/TU/EX):
- 702 / 749 / 691
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:Hey everyone! Question regarding Fico 9. I'm noticing more and more lenders using this score for their products. This fico9 score of mine is greatly lagging behind both Fico8 and my mortgage 5,4, 2 scores by nearly 90-100 pts. (Low 600s currently) What seems to be the heaviest factor(s) weighing on these scores? These scores haven't budged except maybe 10'points in quite some time, yet I've increased both 8 and mortgage score through the roof! What gives?
Some possibles:
-paid collections not counted in 9
-unpaid collections given more weight in 9
-medical collections given less weight in 9
-rental history counted in 9
-recent inquiries given less weight in 9
-average age of accounts given less weight in 9
-no. of accts reporting balance given more weight in 9
-premium for open as opposed to closed installment loans reduced in 9
-installment loan utilization percentage given more weight in 9
-9 more sensitive to revolving utilization
-9 has a separate clean scorecard for people with high revolving utilization@SouthJamaica do you feel like it may also be sensitive to new accounts more so than 8?
You are prob right on the installment util. All our SLs are >100% (some 300%+), so perhaps that is weighing us down most, beyond derogs.
No I don't feel that 9 is more sensitive to new accounts than 8. I think it's possible that the reverse is true. During the period in which I was applying for lots and lots of new accounts, my 9's were consistently way higher than my 8's.
Now my 8's are higher than my 9's. Probably on average a 50-point swing has taken place. IMHO the swing occurred because for most of the time I've been active on MyFICO, my revolving utilization has been very low. When Covid hit, my revolving utilization went way up.
My experience supports the belief that the 9's are more sensitive to revolving utilization than the 8's.